Today, for the second straight meeting, the Federal Open Market Committee voted unanimously to leave the Fed Funds Rate unchanged within its target range of 0.000-0.250 percent. The vote was 10-0.
Cost of Living Reaches An All-Time High, Pressures Mortgage Rates Higher
Inflation fears are harming home buyers. The Cost of Living has reached a record level, surpassing the former peak set in July 2008. Mortgage rates would be rising more right now if not for the Middle East unrest.
Fed Minutes Show Lower Unemployment And Higher Growth For 2011 and 2012
The Federal Reserve released its most recent meeting minutes Wednesday. Fed Minutes are the unabridged version of the succinct, more well-known “Fed Statement” that’s released immediately post-adjournment.
Retail Sales Rise For 7th Straight Month; Mortgage Rates Worsen
If consumer spending is a keystone element in the U.S. economic recovery, a full-on rebound is likely underway. Retail Sales is higher for 7 straight months and is now at an all-time high.